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Segment Reporting

6 Months Ended

Jun. 30, 2025

Segment Reporting

Segment Reporting

14. Segment Reporting

The Company operates and manages its business as one reportable operating segment, which is the business of developing pathogen-specific bacteriophage therapeutics for the treatment of antibiotic-resistant and difficult-to-treat acute and chronic bacterial infections using its proprietary bacteriophage-based technology. The determination of a single business segment is consistent with the consolidated financial information regularly provided to the Company’s chief operating decision maker (“CODM”). The Company’s CODM is its Chief Executive Officer, who reviews financial information on an aggregate basis for purposes of assessing performance, making operating decisions, allocating resources and evaluating financial performance. The Company maintains 99.4% of its $12.7 million property and equipment, net within the United States.

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​

The following table includes certain segment information for the periods presented (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30,

​

Six Months Ended June 30,

​

​

2025

​

2024

​

2025

​

2024

Grant and award revenue

​

$

2,169

​

$

-

​

$

2,660

​

$

966

Operating expenses

​

​

​

​

​

​

​

​

​

​

​

​

Research and development expenses:

​

​

​

​

​

​

​

​

​

​

​

​

AP-PA02: Non-Cystic Fibrosis Bronchiectasis

​

​

152

​

​

1,768

​

​

(288)

​

​

3,602

AP-PA02: Cystic Fibrosis

​

​

14

​

​

138

​

​

25

​

​

235

AP-SA02: Bacteremia

​

​

1,011

​

​

1,051

​

​

1,663

​

​

1,134

AP-SA02: Prosthetic Joint Infection

​

​

1

​

​

1

​

​

2

​

​

8

Expenses not allocated by projects*

​

​

592

​

​

544

​

​

1,112

​

​

1,176

Total external research and development expenses

​

​

1,770

​

​

3,502

​

​

2,514

​

​

6,155

Research and development personnel expenses

​

​

2,293

​

​

2,809

​

​

4,606

​

​

5,422

Other research and development expenses

​

​

2,331

​

​

2,164

​

​

4,703

​

​

4,914

Total research and development expenses

​

​

6,394

​

​

8,475

​

​

11,823

​

​

16,491

General and administrative expenses:

​

​

​

​

​

​

​

​

​

​

​

​

General and administrative personnel expenses

​

​

1,191

​

​

1,571

​

​

2,592

​

​

2,505

Other general and administrative expenses

​

​

1,428

​

​

1,868

​

​

3,280

​

​

4,112

Total general and administrative expenses

​

​

2,619

​

​

3,439

​

​

5,872

​

​

6,617

Total operating expenses

​

​

9,013

​

​

11,914

​

​

17,695

​

​

23,108

Operating loss

​

​

(6,844)

​

​

(11,914)

​

​

(15,035)

​

​

(22,142)

Other income (expense), net

​

​

(9,451)

​

​

20,900

​

​

(7,791)

​

​

6,107

Net income (loss)

​

$

(16,295)

​

$

8,986

​

$

(22,826)

​

$

(16,035)

​

X

- References

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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